NIB finances energy-related investments in Lahti, Finland
The Nordic Investment Bank (NIB) has signed a EUR 60 million 10-year loan with Finnish Lahti Energia Oy to finance an investment programme between 2023 and 2027. The investment programme aims to enhance several energy-related projects.
The investments are related to the electricity grid and in wind farms, building a new electric boiler, and the refurbishment of a biogas power plant. In Lahti Energia’s electricity network area, the use of electricity is expected to increase by up to 30% by 2032.
The planned investments will improve the security of supply and add more renewable energy capacity, resulting in avoided CO2 emissions. The investment in the biogas plant is an example of circular energy. Built with Hartwall, the plant uses the brewery’s own sidestreams from production processes as a fuel.
“The electrification of our society is a key solution to green transition and requires investments in energy infrastructure. With this long-term loan we can support several investments that add renewable energy capacity, modernise outdated infrastructure, and increase the resilience of energy systems,” says André Küüsvek, NIB President and CEO
“The projects implemented with the help of this financing are important stages on our journey towards a sustainable and emission-free future. We want to invest in new technologies and innovations that support the green transition of energy. At the same time, we ensure an increase in security of supply and meet the growing energy needs of our society,” Lahti Energia CEO Jouni Haikarainen says.
Lahti Energia operates in production, supply and distribution of electricity and district heat, and supplies circular economy solutions for energy production. Lahti Energia produces electricity and heat in Lahti at the Kymijärvi power plants. In addition, heat production uses small plants in different parts of the distribution network. The company is owned by the City of Lahti.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Kari Jaukkuri, Senior Banker, at +358 10 618 0237, Kari.Jaukkuri@nib.int
Lotta Forssell, Senior Communications Officer, at +358 10 618 0498, lotta.forssell@nib.int